Well, it's quite some time now since Mastercard along with other former members of the Association that backup the stablecoin project from Facebook, left the "ship" and now the Worldwide Payment Services decided to tell the media why they did that!!
It's interesting to discover that Mastercard entered the Association with "blind" eyes, because only now they claim that the main reasons to withdraws the project are:
- Mastercard doesn't understand the Facebook stablecoin model business: meaning the firm doesn't know where the money is coming from.
- Facebook Data integrity.
- Libra firstly presented as a financial inclusion tool, but didn't took long to became a non perceptive business when made the transition to a proprietary digital wallet, the Calibra.
- The association members behind the Libra project also wasn't committed to follow the compliance rules of KYC and AML Policy.
Well , took some time but Mastercard decided to expose the reasons behind their "quiting" from the stablecoin project.
It's pretty bit confused that only now they decided to "open" their mouths to say this, when accordingly to the Libra, the project is planned to be released yet this year...could this be only more of those FUD?!
Let's see tommorow if PayPal or eBay also don't decide to tell us why they also abandoned Libra stablecoin!!
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Republished Article Original found at Uptrennd Platform From My Authorship Here.
